Roaring Kitty Strikes Again: $200M GameStop Stake

After a three-year absence from Reddit, Keith Gill, a.k.a ‘Roaring Kitty’ the name behind the GameStop Corporation ‘meme stock’ saga — revealed that he owns over $115.7 million worth of shares in the video gaming retailer. Apart from the shares, the influential investor, posted a screenshot on r/SuperStonk subreddit, divulging, that he also has about $65.7 million in call options expiring on June 21 with a strike price of $20 each. With this, his total position came close to $200 million in Gamestop.

Last month, GameStop stock exploded after ‘Roaring Kitty’ returned to X in his first post since June 18, 2021. Gill went viral in 2021 for kickstarting the “meme stock frenzy” by waging war on institutional investors who were betting against GameStop. As reported by TronWeekly, he posted a photo on X then with a man leaning forward in his gaming chair, bringing attention back to the meme stock.

Roaring Kitty: From Reddit Silence to Wall Street Sensation

Overall the developments have left both investors and enthusiasts reeling in disbelief. Amidst these one hawk-eyed observer delved into the potentially seismic implications of Gamestop’s outstanding float. Gill has already accumulated 5 million shares, and he has options to acquire another 12 million shares. If he exercises those options, his holdings could give him a 4.8% stake in the company, which is just below the SEC’s threshold of 5%.

Roaring Kitty’s bold moves are sparking intense discussions across Wall Street as many wonder what’s next for the enigmatic figure and his ever-growing Gamestop empire. With the countdown to expiration just days away, all eyes remain fixated on Roaring Kitty. However, market experts caution against FOMO amidst Gamestop’s rollercoaster ride. Although GME soared over 1000% from just $9 to roughly $90, the token swiftly plummeted by 90% to $9 within weeks.

Others questioned the timing. “There’s a reason why he disclosed this rn at this moment. I don’t think he felt he would have had to. I also assume he will want to close before their earnings call unless he knows something that we don’t.”